Historic Achievement for Hope Credit Clients: Over $23 Million in Forgiveness As we approach the crucial July 1, 2024, date for the official implementation of the Department of Educationās IDR Account Adjustment, Hope Credit is pleased to announce the forgiveness of more than $23 million in student loan debt for…
## Student Loan Forgiveness: Urgent Deadline for FFEL and Parent Plus Loan Borrowers April 30, 2024: Key Deadline for Student Loan Consolidation April 30, 2024, is the new deadline to consolidate FFEL or Parent Plus loans into a Direct Consolidation Loan to remain eligible for the IDR One-Time Account Adjustment (OTA)….
Student Loan Forgiveness 2024. In the past few months leading up to the return to repayment, student loan borrowers have seen significant new benefits aimed at reducing repayment costs and increasing student loan forgiveness. Now, the U.S. Department of Education is pushing for even more targeted forgiveness options, potentially making many borrowers eligible for relief…
The New SAVE Repayment Program: What Borrowers Need to Know On August 1, 2023, the U.S. Department of Education launched the SAVE repayment program, replacing the REPAYE program. This new plan is designed to provide more generous benefits for student loan borrowers. Below are the key aspects of this major change: Key Features of the SAVE Repayment…
UPDATE: Federal court blocks further forgiveness and payment reductions under the new SAVE program. 10th Circuit Court of Appeals Partially Reverses Injunction. UPDATE: This article has been updated June 30th to reflect the U.S. 10th Circuit Court of Appealās action to stay the injunction placed on the SAVE program pending…
What is the IDR Account Adjustment? A Multi-Step Approach to Fix Student Loan Repayment Tracking IDR Account Adjustment: On July 14th, 2023, the U.S. Department of Education announced the latest implementation of theĀ multi-step approachto address longstanding failures associated withĀ student loan payment count tracking,Ā income-driven repayment (IDR) forgiveness, andĀ Public Service Loan Forgiveness…
Supreme Court Halts DOE Blanket Loan Forgiveness Court Halts DOE Forgiveness Court Halts DOE Forgiveness has sent shockwaves through the student loan community. On June 30th, 2023, the United States Supreme Court ruled against the Department of Educationās plan to implement a blanket student loan forgiveness program. This decision means that…
Student Loan Forbearance Ends. Understanding Covid-19 On June 3rd, 2023, the President of the United States signed the Fiscal Responsibility Act of 2023 into law. This legislation officially ends the Covid-19 forbearance and prohibits the Secretary of Education from extending the suspension of student loan payments under the CARES Act, unless explicitly approved by Congress. Student Loan Forbearance Ends When Do Student Loan…
Beginning Sunday January 1st, 2023 (which was a holiday), the student loan servicer responsible for facilitating the Public Service Loan Forgiveness program began sending notifications to successful PSLF Waiver candidates that their loans have been forgiven in full. Fedloan Servicing, the previous student loan servicer responsible for PSLF administration had…
Student Loan Forgiveness Error. Beginning Tuesday, November 22, 2022, over nine million student loan borrowers received emails confirming the approval of their student loan forgiveness applicationsāwhether they had applied or not. Many borrowers who never submitted an application for the blanket forgiveness program but had contact information stored in the…
